TPG’s Novotech payday in sight | Star counts its pennies | Goodman’s $4bn monste r deal

Good evening,

Star Entertainment’s lenders are snapping necks and cashing cheques!

Sources said the casino operator’s lender syndicate has cashed out their quarterly interest payments, which at 13.5 per cent per annum on about $430 million comes to $14.5 million – give or take – for the three months.

The good news is that Star Entertainment’s not gone broke (yet) and can still pay its bills when they come due. And the bad news? It’s not got more than a few weeks worth of operating expenses in the bank, given it was down to just $79 million at December 31 and has just used up a chunk of that paltry amount.

Read the full story tomorrow and more on the Street Talk page.

Goodman Group launched a $4 billion capital raising on Wednesday, riding the crest of an impressive share price spike after it successfully shifted focus from sheds to hyperscale data centres last year.

The sharemarket sealed a three-day losing streak on Wednesday, as profit-taking and lacklustre earnings results from major banks and energy companies weighed on the bourse.

Click here for the latest equity market wrap.